Trump files chapter 11 (again)

[RoyallyFlushed]

All 3 of Trumps' casinos are going belly up and he is filing for bankruptcy on all 3 of his casinos.

He did this a few years back. Ill get the link for you

http://www.comcast.net/articles/fina...NESS-US-TRUMP/

[Simmo!]

BBC article here

[lots0]

Not going Belly Up... Filing for Chapter 11 PROTECTION

As RoyallyFlushed stated Trump has done this before.

[vegetagirl2008]

Good grief and yet I suppose to be there Friday I guess they won't see any of my money..

[mercy]

Trump files chapter 11 (again)

Good.

[winbig]

He's stepped down from the board....at least on the casino end of things:

2/13:

http://www.businessweek.com/the_thre...temp_companies

[NASHVEGAS]

Trump Hotel and Casino companies caught TWA with their 3rd Chapter 11 filing.

Trump tried to steal the company (back, but I would speculate his agenda lies elsewhere), of course with the use of other people's money as always, and then Friday he took his ball and went home. His daughter joined him. Some of his media related comments are questionable just as his stated net worth........Anyone remember his book published in 1987, TRUMP THE ART OF A DEAL (in which he claims to just about out smarted everyone including Steve Wynn, the late Hilton brothers, Michael Rose of Holiday Inns which eventually Harrah's would become a wholly owned subsidiary)???

As a general rule most publicly-held companies will file under Chapter 11 rather than Chapter 7 as the company attempts to reorganize their declining business, operates and generally continues their business, maintains somewhat more control of the bankruptcy process, and their securities and debt-instruments usually are allowed to maintain trading via the secondary markets, etc..

Chapter 11 provides a means and sometimes even buys time per se for returning the business to profitability as an on-going concern . Sometimes the company is successful via various and multiple means and sometimes it is not leading to liquidation.

If LV's Strip is now Skid Row (as the media, analysts and others have recently referred to it,lol), I'm not sure what a metaphor for AC is. The macro-economic recovery (including easier access to capital) time frame is the key uncertainty to the entire industry. If lengthy, all may eventually end up in Chapter 11 as Station Casinos (Green Valley Ranch, Red Rock, the newly opened Aliante among others) has just this month proposed filing for prepackaged bankruptcy in a deal with lender's after failing to make a $14 million plus bond interest payment. (Also a good article in today's LVRJ speculating on the possibility of Harrah's being close to filing).

Despite Trump Entertainment's (and Trump's all about me BS) smoke and mirrors as well as all the specific challenges to AC beyond the entire industry challenges and uncertainties, the Trump Entertainment properties also face unique challenges under "perfect storm constraints" as the properties certainly are not in any condition to get a Mobil Star, lack market diversification, do not currently have the liquidity for capital expenditure investing to compete as well as market their properties.

If the now possibly in doubt sale (currently scheduled to close mid year) of the Trump Marina Hotel Casino to Coast Marina,LLC does not occur, the more unlikely Trump Entertainment emerges from Chapter 11 as an on-going concern (a la Circuit City) imo as well as others'.

[RobWin]

The thing about Trump (The Donald) though is the fact he is an expert in the Chapter 11 arena. He practically wrote the book on it and how to come out smelling like a rose afterward. His main secret to his winning formula is the fact that he gets his investors and banks so far out on a limb and over-leveraged with him and his ventures that (They) cannot afford to let him fail. This has been the case in his two past filings history.

So, he did know what he was talking about in his book "The Art Of The Deal"..."The Donald" loves the credit markets.

[NASHVEGAS]

The thing about Trump (The Donald) though is the fact he is an expert in the Chapter 11 arena.

True among many other practices that I see no honor (ftr, the use of other's money is not an issue) and he is a great promoter whose name for whatever reason remains in demand. I am not sure if this will hold true in the future but based on his past, there is no basis for me currently to win ,lol, this debate other than the simple cliche and maybe more but not relevant.

He practically wrote the book on it and how to come out smelling like a rose afterward.

He has had 8 lives.

His main secret to his winning formula is the fact that he gets his investors and banks so far out on a limb and over-leveraged with him and his ventures that (They) cannot afford to let him fail. This has been the case in his two past filings history

The above certainly is true but no secret (will not nit pick "winning" as you prolly just used as a figure of speech) and also as you state specifically applies to his two past casino filings.

Many different dynamics now and personally he was told to go sit in the corner. I want to view the 10-K but it appears all he stands to lose is his equity valued at ~ $1.5 million. It will be a challenge at least for Trump Entertainment to be party to any on-going concern pursuant to the AC casinos.

Of course Trump will not sit in the corner as there may be something for him to gain (definitely in a non-declining stable market without the uncertainty of future economic and credit conditions). Do what you gotta do but with class,character,integrity and honesty.

So, he did know what he was talking about in his book "The Art Of The Deal"..."The Donald" loves the credit markets

I assume the premise is your post since you say "So". Correct me if I misunderstood.

I reread 4 chapters tonight after dusting. I was not focusing on whether his overall premise is correct but at that time I believe his only failure was the USFL. Humility does not exist in his vocabulary. Regardless, today TAOTD is no college text book but in the 80's it was a must read that was almost repulsive as I reread tonight but then again 1987 was the year of Gordon Gecko.

Cheers

[RobWin]

*Derail*

Gordon Gecko and "Wall Street"...now that is still one of my favorite movies today... Reminds me of "The Donald"

Douglas, was perfect for the role of "Gecko" in my opinion and he did win an Academy Award for it, but then again I was caught up in the allure of Daryl Hannah's character...

Or, really I guess it was a combination of Hannah, Gecko and the Money!